Veeva Systems Inc. (VEEV:NYE) has garnered a “Strong Buy” consensus analyst rating, according to recent reports. With 25 brokerages covering the VEEV stock, it has received positive recommendations from 12 analysts, while 10 have issued a hold rating. The average 12-month target price for the stock is 204.00.
VEEV Stock-Analyst Ratings:
Stock Target Advisor reports that VEEV has earned an average recommendation of “Strong Buy” from analysts. Notably, Citigroup lowered their target price from $213.00 to $200.00 but maintained a “buy” rating for the company.
Truist Financial reiterated a “hold” rating with a revised target price of $195.00. UBS Group decreased their target price to $175.00, while Piper Sandler raised their target price to $212.00. Needham & Company LLC reaffirmed their “buy” rating with a $220.00 price objective.
Insider Transactions:
Recent insider transactions at Veeva Systems have drawn attention. Director Paul Edward Chamberlain sold 160 shares on March 10th, generating approximately $27,107.20. Following this sale, Chamberlain holds 16,776 shares valued at around $2,842,189.92.
Another director, Paul J. Sekhri, sold 2,658 shares on March 3rd, with a total value of $483,569.94. Insider selling activity in the last 90 days amounted to 12,818 shares worth $2,296,277. It’s worth noting that insiders currently own 10.98% of the VEEV stock.
Institutional Holdings:
Veeva Systems also witnessed institutional trading activity during the recent period. Pinnacle Bancorp Inc. entered a new position in VEEV, valuing it at approximately $26,000. Ahrens Investment Partners LLC and Barrett & Company Inc. also purchased new stakes in the company, with investments of around $27,000 and $28,000, respectively.
Furthermore, CI Investments Inc. experienced significant growth in its position, increasing its shares by 964.7% in the third quarter. Lindbrook Capital LLC also expanded its position, acquiring additional shares and now owning 192 shares valued at $31,000. Currently, institutional investors hold approximately 78.76% of the VEEV stock.
Veeva Stock Price Performance:
On Wednesday, VEEV stock opened at $163.97. The stock’s 50-day moving average stands at $176.71, while the 200-day moving average is at $173.56. With a market capitalization of $26.20 billion, Veeva Systems maintains a price-to-earnings ratio of 54.48 and a beta of 0.92. The stock’s 12-month range extends from $151.02 to $232.26.
Latest Earnings Report:
Veeva Systems announced its quarterly earnings data on March 1st, revealing earnings per share (EPS) of $0.68 for the quarter. This exceeded analysts’ consensus estimates of $0.62 by $0.06. The company reported revenue of $563.39 million, surpassing the projected $552.18 million. Veeva Systems showcased a net margin of 22.63% and a return on equity of 12.42%. For the current fiscal year, sell-side analysts predict that Veeva Systems will post earnings per share of 2.55.
Conclusion:
Veeva Systems Inc. (VEEV:NYE) continues to receive a “Strong Buy” consensus rating from analysts, indicating positive market sentiment. The company’s recent earnings report showcased strong performance, with exceeded earnings and revenue figures. Despite some fluctuations in stock price, VEEV remains an attractive investment option. With ongoing insider transactions and institutional trading activity, Veeva Systems remains an intriguing player in the technology sector. Investors should carefully consider these factors while evaluating their investment decisions.
